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Economy

Angola should lead Central African economic integration, admits Minister of Economy

Angola represents more than 50 percent of the Gross Domestic Product (GDP) of the entire Economic Community of Central African States (CEEAC) and should be the "engine" for the integration of the regional economy, the minister of economy said.

: Pedro Parente/Angop
Pedro Parente/Angop  

Sérgio Santos, Minister of Economy and Planning, argued that the country has "an important role to play" and "a great opportunity" to integrate the 11 economies of the region.

Sérgio Santos spoke in Luanda during a meeting with members of the CEEAC commission and Angolan businessmen in which the topic of increasing trade among the countries that make up the organization was discussed.

The CEEAC, chaired by the Angolan Ambassador, Gilberto Veríssimo, is composed of Angola, Burundi, Cameroon, Gabon, Equatorial Guinea, Central African Republic, Republic of Congo, Democratic Republic of Congo, Rwanda, São Tomé and Príncipe and Chad.

In statements to journalists, the minister recalled that the region has a community of more than 150 million inhabitants, a GDP of over 200 million dollars and Angola, he insisted, plays a "very important role in integrating these economies.

"To benefit not only from the friendly, kinship relations that exist among the various peoples, but mainly to promote a climate of peace, stability in our countries and economic progress," he stressed.

"We have the need, in terms of strategic vision, to insert ourselves in the growth of the region, in terms of material conditions as well," the minister pointed out, highlighting the need for a "more vibrant private sector".

The internal growth of several industries and national production were pointed out by Sérgio Santos as other valences of the country for the leadership of regional economic integration.

According to the Minister of Economy and Planning, with the growth of national production, the "natural markets are the regional markets".

"Therefore, we have material conditions in terms of the private sector to promote integration, an integration that means there is complementarity between the national private sector, and also the regional", he sustained.

The need to strengthen partnerships was also defended by Sérgio Santos, for whom the "robustness" of the regional economy will contribute to the end of conflicts, instability, hunger and poverty in the region.

The Economic Community of Central African States was created in 1983.

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